Companies operating in the European Union will have to deal with new non-financial and sustainability reporting requirements under the EU's Corporate Sustainability Reporting Directive (CSRD) from January 2024. Directive (EU) 2022/2464 of the European Parliament and of the Council The CSRD’s progress reflects a shift in how governments approach reporting on environmental, social and governance (ESG) data, which includes a company’s carbon footprint. ESG reporting is critical in helping stakeholders, particularly investors, assess the risk of their investments based on knowledge of a company’s impact on people and the planet. It also helps them understand how climate-related disasters can impact business. Robust sustainability reporting is also important in building trust and improving a company’s reputation. (Jennifer L)